Flex Space with Showroom and
5602 Kingsport Hwy Gray, TN 37615
For Sale
Contact for pricing
Built-out upper showroom and office areas, plus a downstairs warehouse with a truck dock and replaced HVAC.
Property Size7,834 SF
Lot Size1.08 Acres
Price / SF$112.32
Days on Market95
Property Features for 5602 Kingsport Hwy
General Information
- Standard status
- Active
- Size
- 7,834 SF
- Lot size
- 1.08 Acres
- Property subtype
- RETAIL
Listing Agency:
Re/Max Checkmate, REALTORS Commercial
(423) 612-3035
Listed By:
Jay R Goodson · License #329807
(423) 612-3035
Source:
Moodyscre
Added: Apr 22
Changed: Jul 25
Last Checked: Jul 25 at 1:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Re/Max Checkmate, REALTORS Commercial
Investment Insights
Based on property information with market context.
This flex space is designed to combine built-out office and retail/showroom functionality with practical warehouse utility. The upper level is at grade with Hwy 36 and includes showroom, lobby, office areas, and a break room. The lower level provides moderate temperatures year-round and is supported by a truck dock for loading and unloading.
The property includes over 150 feet of road frontage on a major commercial corridor and features pylon signage. A freight elevator is also included.
HVAC was replaced in 2024, and the space includes updated finishes. The offering includes a 0.72-acre site plus an adjacent 0.36-acre site, providing over 1 full acre of total commercial land for use in support of the business.
The property includes over 150 feet of road frontage on a major commercial corridor and features pylon signage. A freight elevator is also included.
HVAC was replaced in 2024, and the space includes updated finishes. The offering includes a 0.72-acre site plus an adjacent 0.36-acre site, providing over 1 full acre of total commercial land for use in support of the business.
Key Highlights
- Built‑out commercial space with upper‑level showroom, lobby, and office/break room areas at grade with Hwy 36
- Downstairs warehouse/flex space with a truck dock for loading and unloading and moderate temperatures year‑round
- HVAC replaced in 2024 and stylish finishes added throughout
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.0k | $12.00 |
| − Vacancy | −$5.6k | −$0.72 |
| EGI | $88.4k | $11.28 |
| − OpEx | −$30.9k | −$3.95 |
| NOI | $57.4k | $7.33 |
7,834 SF · lease $12.00/SF/yr · vacancy 6.00% · expense 35.00%
Alternative Uses
Best Use
Retail
$1.75M
$1.53M – $2.04M
NOI $122,556 @ 7.0% cap · market cap 13.93%
Second Best
Flex RnD
$820.6K
$718.0K – $957.3K
NOI $57,439 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,260 @ 7.0% cap · market cap 26.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
A Nature's Healing Arts
Alternative Medicine Practice
The Lucky Fin Homestore
Furniture & Home Goods
Jim Quillin, LMT, ...
Alternative Medicine Practice
FAQs
What type of property is this?
Flex space - Built-out upper showroom and office areas, plus a downstairs warehouse with a truck dock and replaced HVAC.
Where is this flex space located?
The property is located at 5602 Kingsport Hwy Gray, TN.
What is the asking price?
The asking price for this property is $879,900.
What are key features of this property?
This property features: Built‑out commercial space with upper‑level showroom, lobby, and office/break room areas at grade with Hwy 36; Downstairs warehouse/flex space with a truck dock for loading and unloading and moderate temperatures year‑round; HVAC replaced in 2024 and stylish finishes added throughout
